Wells Assistant Cost Engineer

Aberdeen, United Kingdom

Job Reference 1187103

Location Aberdeen, United Kingdom


Function Budget / Cost Control

Job Type Contract

Date Added March 29, 2023

PRINCIPAL ACCOUNTABILITIES (key tasks/services for which incumbent is responsible)
  • Day to day cost tracking;
    • Ensure correct information is being tracked in cost tracking system (CTX)
    • Continued understanding of EFC and daily cost with transparent reporting of these numbers
    • During operations, submit daily cost to offshore to be added to DDR
    • Liaise with Engineers and service providers to ensure accurate tracking of daily expenditure against project
    • Review of time writing for personnel, ensuring approved personnel are time writing correctly and rejecting any unapproved time writing
    • Manage Maximo for cost areas of responsibility, inputting AFE’s and approving Purchase Requisitions and Purchase Orders
  • Preparation of accurate monthly reports;
    • Provide monthly report to relevant JV accountant and/or project team for calculation of monthly accruals
    • Ensure all invoices, commitments and time writing have been recorded
    • Ensure Value of Work Done  is re-evaluated based on most current data
    • Interrogate data received from other team members
    • Re-forecast estimate to complete/forecasted final costs and identify any area of concerns such as budget overruns work/delivery slippages etc which may impinge upon other cost areas
    • Ensure forecast expenditure phasing is aligned to current plan and also reflects data received from other discussions held with project team members
  • Carry out weekly cost review meetings to officially liaise with engineers, discussing value of work done and cost forecasts
  • Assist Wells Cost Lead in delivering, maintaining, managing and where necessary improving wells cost framework, procedures and tools
  • Work with invoice checkers to ensure review, verification and correct cost allocation/coding of invoices
  • Liaise with Engineers and offshore personnel on cost related matters, such as progress, milestones and variations
  • Support Wells inventory team with coding, cost and legacy queries where applicable
  • Consult with and advise department and accounting personnel on wells accounting issues
  • Prepare and review well AFE’s
  • Prepare and review budgets and forecasts/forecast revisions in advance of submission to Business Partner
  • Ensuring readiness of well reconciliations for presentation to Joint Venture partner
  • Carry out well reconciliation at the end of each well’s operation auditors. Also, respond to any queries from auditors or internal audit co-ordinators
  • Follow AFE close out process
  • Involvement in year-end audit process, providing information to external auditors and internal audit co-ordinators
  • Ad hoc duties, as required
  • Good written and oral communication skills. 
  • Ability to interact at all levels
  • Articulates views in comprehensive manner
  • Produces work of presentable quality
  • Ability to adapt to new processes/software
  • Good planning and organisational skills
  • Self-motivated team player with excellent interface skills at all levels.
  • Ability to work accurately and in accordance with established policy and procedures
  • Has good working knowledge of working with Operator Cost Control & Financial Systems.
  • Awareness of Project components such as Project Management, Subsea, Topsides, Drilling, Subsurface and Financial.
  • Knowledge of Cost Control – Budgets, Allocations, Commitments, Value of Work, Forecasts and Estimated Final Costs.
  • Management of Project provisions – Use of Growth Allowances & Contingency Allowances.
  • Preparation of Project Reporting – Internal & External.
  • Experience of Vendor Management – Interface/Reporting/Milestones
  • Experience of Microsoft Office is essential and working knowledge of Sun and Maximo.
  • Graduate in a technical or financial discipline
  • Working towards professional qualification.
Drilling CTX Cost control system.

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